News - Tiruppur Expoters' Association

Budget 2020-21: Downloading of TDS Certificates should be optional as nobody asks for it, MSMEs suggest - 18th January 2020

support@tea-india.org (TEA Admin) — Sat, 18 Jan 2020 10:28:15 +0530

New Delhi, Jan 17 (KNN) As the government had sought feedback/ suggestions of people from all sectors across India for the Budget set to be presented on February 1, 2020, ideas, suggestions and requests are pouring in from industry to bring new reforms and to do away with the policies which are no longer relevant and increases “unease” of doing business in the country.

SGST unearths Rs6.56 crore ITC scam of seven firms in city - 18th January 2020

support@tea-india.org (TEA Admin) — Sat, 18 Jan 2020 10:27:00 +0530

Surat: State Goods and Services Tax (SGST) department raided seven export units and unearthed input tax credit (ITC) fraud of Rs6.56 crore by them by showing fake supplies of goods in the city on Friday.

Indian govt's outstanding loans from RBI at $8.53 bln in week to Jan. 10 - 18th January 2020

support@tea-india.org (TEA Admin) — Sat, 18 Jan 2020 10:25:21 +0530

BENGALURU: The Indian government had 606.05 billion rupees ($8.53 billion) of outstanding loans with the central bank under ways and means advances in the week ended Jan. 10, according to the Reserve Bank of India's weekly statistical supplement released on Friday.

Apparel company Gap spikes plan to spin off Old Navy - 18th January 2020

support@tea-india.org (TEA Admin) — Sat, 18 Jan 2020 10:24:14 +0530

New York, Jan 16, 2020 -Struggling apparel company Gap on Thursday spiked a plan to spin off its Old Navy brand while the company seeks to replace its ousted CEO.

Alarmed RBI seeks govt relief for telcos to avoid bad loans - 18th January 2020

support@tea-india.org (TEA Admin) — Sat, 18 Jan 2020 10:23:28 +0530

Alarmed by the risk that the telecom AGR (adjusted gross revenue) mess has created for a large bank exposure, the Reserve Bank of India (RBI) has requested the government to provide some relief to the telecom players on clearance of the dues.

Textile exports grow 3.94pc in six months - 18th January 2020

support@tea-india.org (TEA Admin) — Sat, 18 Jan 2020 10:20:45 +0530

ISLAMABAD - Pakistan’s textile exports have recorded growth of 3.94 percent in first six months (July to December) of the ongoing financial year (FY20) mainly due to cash support to various sectors and currency depreciation.

Export of garments gets one-time sop - 17th January 2020

support@tea-india.org (TEA Admin) — Fri, 17 Jan 2020 10:54:53 +0530

Garments and made-ups exported between March 7 and December 31, 2019 will get a special one-time additional ad-hoc incentive of up to 1% of FoB (free on board) value.

MEIS scrapped: Garment exports may shrink 10% in Q4FY20 - 17th January 2020

support@tea-india.org (TEA Admin) — Fri, 17 Jan 2020 10:53:56 +0530

The government has decided to scrap incentives for the garment and made-ups sector under a key programme — the Merchandise Exports from India Scheme (MEIS) — retrospectively from March 7, 2019, dealing a deadly blow to cash-starved exporters, who warn that the already-faltering outbound shipments of apparels could plunge further to around 10% in the last quarter of the fiscal, against a 0.8% rise in the April-December period.

Apparel, made-ups exports get 1% ad hoc sop - 17th January 2020

support@tea-india.org (TEA Admin) — Fri, 17 Jan 2020 10:37:17 +0530

New Delhi: The textile ministry has announced a special one-time additional ad hoc incentive of up to 1% of free on board (FoB) value for exports of apparel and made-ups.

Rupee opens 8 paise lower against dollar - 17th January 2020

support@tea-india.org (TEA Admin) — Fri, 17 Jan 2020 10:35:49 +0530

The Indian rupee edged lower against dollar on Friday in the morning session.